For the second year running, Algorithmics credit risk solutions have been positioned top for completeness of offering by Chartis Research in its Credit Risk Management Systems 2010 report. The report covers credit risk management solutions for both the banking and trading book, and examines how effectively risk management systems meet market needs for risk-based decision support tools and regulatory compliance.
The report commends Algorithmics for its ability to offer multiple solutions across the enterprise risk management (ERM) spectrum and coverage across multiple asset classes and products, and says that ‘its integrated offerings provide value for financial institutions looking for a cost-effective one-stop-shop for a range of risk and compliance solutions’. Chartis notes that vendors able to supply flexible and integrated risk management solutions that feature real-time business intelligence and analytics will be well placed to compete in this market.
Commenting on the results, John Macdonald, Executive Vice President, Algorithmics, said: Algorithmics credit risk management solutions have long been recognized for their breadth and quality. However since the financial crisis, we have further enhanced and developed our solutions to meet our clients new requirements for real-time, integrated enterprise credit risk solutions. For example, our latest CVA product is capable of calculating pre-deal incremental CVA in the front office, which is giving our clients a competitive advantage in their trading, and providing them with counterparty optimization options.
According to the Chartis Research report, Algorithmics has achieved the top position for completeness of offering of its credit risk management solutions, which reflects Algorithmics commitment to enterprise-wide integrated risk management. Chartis market assessment considered the following five factors: depth and breadth of functionality; flexible technology architecture; scalable sales and marketing strategy; ongoing innovation and implementation capability. Algorithmics was recognized for its strong performance with respect to Basel II, credit rating and scoring, trading book and banking book risk management, credit fraud, credit portfolio management, limit and exposure management and stress testing.
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